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Real Estate Massachusetts Real Estate Salesperson Sample Questions:

1. A buyer is purchasing a 3-acre property and is paying $12,000 per acre. The cooperating fee is 3½% of the sale price. The buyer's agent will receive 55% of the cooperating fee from a broker. How much commission did the buyer's agent receive?

A) $693
B) $231
C) $1,260
D) $1,386

2. When performing its duties, the Board of Registration protects and safeguards the interests of the

A) State legislature.
B) General public.
C) Governor's office.
D) Licensees.

3. A contract in which a licensee is employed by an owner to find a buyer for a 20-unit apartment building is most likely

A) a property management contract.
B) a contract of sale.
C) a listing contract.
D) an option contract.

4. In a firm whose business model is designated agency, who represents the client named in the consumer licensee disclosure form?

A) All other designated seller agents
B) All the licensees
C) Only the individual agent(s) named on the consumer licensee disclosure form
D) All other designated buyer agents

5. A subordination agreement is used to

A) pledge property for a loan without giving up possession.
B) change the priority of mortgages.
C) assign rents to the lender in case of borrower default.
D) initiate foreclosure proceedings.

Solutions: